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this administration, under republican administration. >> reporter: experts warn of serious damage to the economy if the standoff drags on. >> if three or four weeks from now they're making no progress at all, you're going to see the anxiety and the nervousness growing both in the markets and in corporate boardrooms. it's going to be a rough two months for the u.s. economy. >> reporter: and lester, as the clock ticks with the two sides still at odds, they'll try to take the first steps towards common ground on friday here at the white house when the president hosts the entire congressional leadership. >> mick viqueira, thank you. >>> tomorrow marks two weeks since sandy roared ashore here in the northeast, wiping out homes, leaving families with nowhere to go as they try to even think about how to pick up the pieces. a housing crisis that has the feds scrambling to help them. nbc's michelle frandsen is in staten island with more on that. good evening. >> reporter: good evening. this distribution center is the hub for this darkened neighborhood on staten island where people can come and get a hot
given where our economy is. >> is it on the table to talk about. >> i made clear yesterday that raising tax rates is unacceptable. frankly, it couldn't even pass the house. >> at issue here, a perfect economic storm that could have serious consequences. nbc's andrea mitchell breaks it down for you. >> reporter: the campaign was tough. victory was sweet. now comes the hard part. >> on january 21st, 2013, there's going to be a massive fiscal cliff. >> reporter: so what exactly is the fiscal cliff? it's a nightmare combination of tax heights and spending cuts that congress agreed to to force themselves into a compromise but so far they haven't agreed on anything so barring a last-minute fix at the stroke of midnight on new year's eve the tax cuts expire, alternative minimum tax kicks in, more than half the families with two children would oe 4,000 more. on top of that, the 2011 temporary payroll tax cut would expire. so add on a 2% tax increase for most workers. then there would be automatic spending cuts in 1,000 government programs, defense, welfare, extended unemployment benefits. every
coalition and perhaps the fact that the economy got a little bit better is another fundamental fact but all these other things preoccupied us for some time. you can only, looking back, see those 20 debates that bushed everybody, including romney who became a moderate much too late to get that nomination. >> it is still striking. you have some 70% in the exit polls who believe the economy is in bad shape, 52% who feel like the country is off on the wrong direction. a lot of opposition thought to president obama and his policies and yet he prevails because of a coalition ever expanding that believes in a certain role for government, bob, that is opposed to where the republicans would like to take it. >> i think the big picture here is that president obama has got to deliver on the big issue, which is fixing the financial house of the u.s. federal government, it is in disarray, not just the fiscal cliff but $16 trillion in ious out in the world. in a couple of months, in february or march, they are going to have to renegotiate borrowing authority for another trillion or two dollars and if the
on the economy. but in fact, that's the part of the bargain that you have to do. and we're at historic lows on revenues. so i've always agreed to it. i voted for the simpson-bowles, i've been part of the gang of six, gang of eight. i agree that we have to go there, but how we go there is very important in terms of the incentives for capital investment in this country. and we have do it in a way that does not diminish that. >> let me turn quickly to lessons from this election and where things go beyond this negotiation over fiscal matters. senator schumer, immigration. are we going to get comprehensive immigration reform? it sounds like, if you listen to the house speaker, they've had a chang of heart, they want a comprehensive plan. is there news to be made on this? >> yeah, i think so. senator graham and i have talked, and we have resuming the talks that were broken off two years ago. we had put together a comprehensive, detailed blueprint on immigration reform. it had the real potential for bipartisan support based on the theory that most americans are for legal immigration but very much
in automatic cuts and defense and d domestic budgets are triggered. they estimate that would cause the economy to take a significant hit, raising unemployment to 9.1% by the endo of next year.t, but the real political sticking point is taxes. the president called on congresi to make tax cuts for people making less than $200,000, and drew a line in the sand. t >> i refuse to accept any ised approach that is not balanced.nh and on tuesday night, we found out the majority of americans agree with my approach. >> reporter: the president was referring to the tuesday exit poll which indicated nearly 60% of voters would support higher taxes on the wealthy. and while john boehner hinted ar some taxes going up, he also listed some conditions. >> and it is not like there is a money in social security or medicare, this has to be dealt with, so everything, everything on the revenue side and on the s spending side has to be looked at. >> reporter: now brian, the sid white house says that social security shouldn't be a part of these negotiations. but i can tell you, republicans won't participate if social s
: experts warn of serious damage to the economy if the standoff drags on. >> if three or four weeks from now they're making no progress at all, you'll see the anxiety and nervousness growing in the markets and corporate boardrooms. it's going to be a rough for months. >>> two weeks after the destruction from hurricane sandy, victims are still trying to put their lives back together. more than 100,000 homes and businesses in new york and new jersey are without electricity as they struggle to rebuild. a 77-year-old man has died of injuries from a fall as sandy hit new york, bringing the city's death toll to 43. janet napolitano visited with disaster relief workers in new york, reaffirming her commitment to be with those in need for the duration. >>> now for a look at your national and regional weather, here is bill karins. very good morning to you. >> you have a good weekend? >> i did. it was nonexistent. it's coming up, actually. >> i understand that. some of us work weekends every now and then. here's what we're looking at today. big temperature contrast across the country. not going to have
own news conference saying raising the highest rates will only hurt the economy more and proposed extending tax cuts from t bush era until 2013. >> everyone wants to get our economy moving, again. everyone wants to get more americans back to work, again. raising tax rates will slow down our ability to create the jobs that everyone says they want. >> so, all we need is action from the house. and i've got the pen, ready to sign the bill right away. i'm ready to do it. i'm ready to do it. >> that's where we stand for now. who knows where we'll be next week when president obama invited leaders of congress to the white house to continue these talks in person. live in the newsroom, keith russell, news 4. >>> the cold weather is leaving us and the sunshine is coming back for our weekend. storm team 4 meteorologist doug kammerer has more. >> we have been below average for two weeks and it looks like this weekend will change that. 54 degrees and the sun has already made its way down. the wind now out of the north at 6 miles per hour. still, a little chill to the air, but nothing like we've
returns back to the white house. and with the economy limping back to health, the stakes could not be higher. the president headed back to washington where the voters decided he should stay for four more years. at his campaign headquarters in washington, he thanked staff and supporters. this, after a night of emotional celebration in his hometown of chicago. 20,000 turned out, sharing tears and hugs. >> a long campaign is now over. and whether i earned your vote or not, i have listened to you. i have learned from you. and you have made me a better president. >> reporter: a passionate speech. >> michelle, i have never loved you more. >> reporter: mixed with a little bit of humor, aimed at his daughters. >> i am so proud of you guys, but i will say that for now, one dog is probably enough. >> reporter: the president has held almost 200 campaign events, logging thousands of miles on board air force one, the two candidates spending nearly $900 million, making this the most expensive campaign in history. it is the victory that at times seemed impossible. and sharply divided electora
make a deal by january 1. some economists say uncertainty now, says it will be a drag on the economy. >> if three or four weeks they're not making progress you will see anxiety and nervousness grow in markets and board rooms. rough two months for the u.s. economy. >> house and they meet with pre obama at the white house. >>> frightening scene in an indianapolis neighborhood. the investigation into what caused the explosion that leveled homes and left two dead. >> new details tonight from the man believed to be the east coast rapist. what he has to say about the crimes he is accused of. >>> nearly 70% of venice completely flooded. what's causing the high water. >> a massive explosion leveled two homes. the fire engulfed the neighborhood and killed two people. today sitty cam together to help those affected. as we report, investigators are still trying to figure out what sparked the blast. >> it was described as a war zone. upon entering the richmond hills subdivision you can clearly see why. debris and damage everywhere. nearly every home, burned or battered or broken or simply gone.
increases. >> reporter: the economy could go off that cliff. so what exactly is the fiscal cliff? it is a nightmare combination of tax hikes and spending cuts that congress and the president agreed to. to force themselves into a compromise. but so far, they have not agreed on anything. so barring a last-minute fix at the stroke of midnight on new year's eve, the bush tax cuts expire. the alternative minimum tax kicks in. more than half of all married couples with two children would owe an additional $4,000 in taxes per year, for those with three children or more, that jumps to $4700, on top of that, the payroll tax cut would expire. so add on a 2% tax increase for most workers, with automatic spending cuts in a thousand government programs, including defense, medicare, extended unemployment benefits. everything but veteran's benefits and social security, pensions. congress says that action would act as a break on the economy, throwing it back into recession and could cause a market crash. >> people watching very closely is can the administration actually tackle those fiscal issue
is holding firm against one of the president's main campaign pledges. >> everyone wants to get our economy moving again, everyone wants to get more americans back to work again. raising tax rates will slow down our ability to create the jobs that everyone says they want. chris: in your book, the price of politics, a heck of a book. you talk about how debt negotiations fell apart the last time, we tried it in the summer of 2011. will the speaker, we just saw, have the strength to lead his party even if he has to fight for the tea party? >> their camouflage is tax reform and they're going to do that over time. so the rates could come down. the really interesting thing is when you examine the detail of this, last year they were close. they actually could have worked out some agreement and it blew up because of the president asking for more revenue and that was the limit for them. i think it is a moment of necessity to a certain extent. they can't avoid this now. chris: reporting challenge. does the president have confidence or belief that the other side, that would be mitch mcconnell, the sen
fear that could plunge our economy into a deep recession. president obama will discuss the issue with congressional leaders on friday. >>> the man suspected of being the east coast rapist is expected to enter his first guilty plea in virginia today. aaron thomas is expected to take responsibility for the 2009 attack on three teenage trick or treaters in prince william county. he's accused of forcing them into the woods and raping two of them on halloween night. thomas is expected to enter a second guilty plea in loudoun county at the end of the month. both those cases carry life sentences. >>> rescuers saved one person in a house fire in the district. it broke out at the 1700 block of benning road northeast. firefighters say the fire started in the kitchen causing heavy smoke. three people were taken to the hospital. they're expected to be okay. >>> two cars struck and killed a 42-year-old woman trying to cross the street in prince george's county. it happened at the 3800 block of kenilworth avenue and bladensburg. the victim, mary harding, was not in the crosswalk at the time. n
for veterans in this economy has been tough. >> sometimes i feel like it's a slap to the face, because we've served our country. >> reporter: johnson left the army in 2009 after serving two tours in iraq. >> i have plenty of interviews, and people shake my hand and tell me thanks for what you did for the country and everything like that. and never got the job. >> reporter: the bureau of labor statistics reports unemployment among veterans is above 12%. that's why marines say we need to hire their services, actively putting veterans to work. customers like these it chose these movers because they're veterans. >> i wanted to do business with them because of what i've heard about them i. prayed for something like this. >> reporter: johnson says this opportunity motivated him and hope for the others. >> it's not over. guys got you -- you got to have yourself. >> reporter: he's proven himself to be army strong. in alexandria, news 4. >>> two marines looking to hire 50 vets by tomorrow's holiday. hired 35 so far. anyone interested can still apply. >>> chuck's back, beautiful day. continuing tom
to be a rough couple of months for the u.s. economy. >> president obama says he's willing to compromise to reach an agreement, but he insists america's top earners pay more in taxes. >>> it's approximately two weeks since hurricane sandy hit shore in the northeast. crews are still working to restore power to 120,000 homes in new jersey. 4,000 residents are still living in shelters. fema has approved more than $450 million in assistance. in the meantime, governor andrew cuomo plans to ask the government for $30 billion in disaster aid. >>> the federal red cross says it has received $117 million in donations to help the victims of sandy. the agency also says its response has been near flawless. some residents in certain areas disagree with that. they say the help has been sporadic and very difficult to find. >> red cross hasn't offered any assistance until yesterday. they take people's hard working money to assist people, and when push comes to shove, they don't assist. >> i think we are near flawless in this operation. i'm just so proud of everything that we are doing on the ground. >> the red cr
obama will deliver a speech on the economy from the white house. it will be his first address since election night, and it is on the eventuality of what they're calling a fiscal cliff. that's the term being used for automatic across the board cuts that were part of the 2011 budget compromise. if congress does not reach a budget deal, those cuts take effect next year. today virginia's governor bob mcdonnell ordered state agencies to cut their budgets by 4% to prepare for that possibility. >>> there is a new effort to stop a casino from coming to prince george's county. some residents filed a civil suit against question 7 today. they say a casino would compromise their quality of life. the lawsuit itself is based on voter turnout. it claims that too few registered voters came to the polls to constitute the majority required to approve question 7. >>> a chapter now closed for former arizona congresswoman gabby giffords. she was in court today as a judge sentenced jared loughner to life in prison. it was the first time that the two came face-to-face since loughner shot the congresswoman
to repair the economy still lies ahead. >> but, first, a one-two punch from mother nature. snow and wind hammer the northeast just nine days after super-storm sandy devastated the region. another storm slams the northeast, this one won't pack the same punch as that last one. >> it is impacting the area still reeling from sandy. looking live in waterbury, connecticut, at least six inches of snow. it's making a mess of the roads there. jay grey with a similar scene in new jersey. >> reporter: ten days after sandy and the sea is raging again. high winds and heavy rains are battering the northeast already. flood watt others are rising. >> it's very sad. it's very sad to see it's getting pounded again. >> reporter: and this time, there's also snow. >> i don't believe it's like snowing here. >> reporter: a thick blank et covering roadways and cancelling flights and now settling over the debris that sandy left behind adding to the misery that so many have been forced to deal with here. the conditions are crippling with clean-up and recovery. >> i could see us actually moving backwards and peopl
.s. economy is very resilient and won't collapse even if a plan can't be agreed on january 1st. buffet also says he believes the economy will be fine even if income and capitals gains taxes were significantly higher. >>> it is unclear why a man pulled a began on a sheriff's deputy. that deputy fired his weapon killing the man. this went down at a home on 63rd avenue, riverdale road. he was trying to serve a peace order, similar to a protective order. a woman answered the door, let the deputy in. then a man came out from another room with a gun. the deputy fired his weapon, killing the man. neighbors were surprised to hear the deadly shooting in that home. >> i know them enough to say, hey, how are you, a face and a name. we're going to be concerned. this is our neighborhood. >> the sheriff's deputy is a tenured officer and is now on administrative leave. >>> police hope images can help track down this man who robbed a walmart on route 198 and shot a store manager. the manager followed the gunman outside to the parking lot. rescuers took him to the hospital. he is expected to be okay >> prin
economy is removed by that single step. >> the president unexpectedly did not express displeasure with how long it took to be notified of the scandal involving general david petraeus. >> we're not supposed to meddle in, you know, criminal investigations. and that's been our practice. and i think that there are certain procedures that what the fbi follow or doj follow when they're involved in these investigations. that's traditionally been how we do things, in part because people are innocent until proven guilty. >> the president also said his hope is that it ends up being just a side note in the extraordinary military career of david petraeus. live in the newsroom, keith russell, news4. >>> general petraeus' mistress may be hiding out here in washington. she was spotted at her brother's home last night. he lives in the mount pleasant neighborhood of northwest d.c. camera crews were stationed outside the home this afternoon, but no sign of her today. broadwell lives in charlotte, north carolina. she's kept a low profile and has not spoken publiclybout her affair with petraeus when that was
pensions. that combination would be a break on the economy, throwing it back into a recession and could cause a market crash. >> people watching very closely, can the administration tackle those issues or is there risk of more uncertainty, more gridlock and america going off that fiscal cliff. >> one senator retiring says this is the crisis washington created. >> i hope people learned a lesson in the last election in what people are thirsty for. it's bipartisanship. we cannot minimize the situation we are facing. we are at a tipping point in this country. >> reporter: andrea mitchell, nbc news, washington. >>> the spending cuts could have a devastating effect on northern virginia. they could lose thousands of jobs because of defense contractors and government agencies. the governor is bracing for the worst. this year's election may be over, but one democrat is already looking ahead to become virginia's governor. he's running for governor, again. the former chairman ran in 2009. he is the first democrat to enter the race. lieutenant governor and ken cuccinelli are seeking the republican
. >> instead of raising tax rates on the american people and accepting the damage it will do to our economy, let's start to actually solve the problem. >> reporter: the speaker wants a tax overhaul that raises money by cutting loopholes. if they can't hammer out a spending deal by year's end, the nation goes over the so-called fiscal cliff. taxes go up for everyone. an average of almost $3,500 per household. and there will be deep automatic spending cuts in both domestic spending that could hobble the economy. they want the president to address the real problem. >> and the real problem is uncontrolled entitlement spending, and the government that has grown massively. >> reporter: democrats say republicans are going to have to compromise. just like the president and his party did after getting walloped in the 2010 elections. >> we cut $900 billion in spending that we didn't like, painful to us. >> reporter: in washington, a high stakes search for middle ground. some members of both parties are willing to go over the fiscal cliff and let the next congress work it out. on capitol hill, brian m
raising taxes. he wasn't talking about growing the economy. so as people earn more, we end up getting more tax revenue from those larger earnings. all of this may not calm wall street because whatever they do between now and the end of the year may be temporary if they continue to work out the big picture. what we do know, the congressional budget office says, if congress does nothing, we could be looking at 9% unemployment next year. >> tracie potts live on capitol hill. tracie, thank you. >>> secretary of state hillary clinton has said she does not plan to stay with the obama administration for his second term. that has sparked a lot of questions about who the president would choose to fill that spot. it appears u.n. ambassador susan rice is emerging as a leading candidate. according to bloomberg news, several white house officials say rice is close to the president and has a similar foreign policy philosophy as the president. senator john kerry and national security adviser tom donlon have also been mentioned as potential replacements. hillary clinton may remain secretary of state for t
homeowner tax increases at 10% to help the homeowners stay in their homes. but with the city's economy rebounding, even booming, from the national economic slowdown, rising house prices are putting more pressure on those taxpayers. now d.c. council finance and revenue chairman jack evan says he wants legislation this year to limit homeowner property tax increases to 5% a year, not 10%. as long as someone stays in their homes. >> no one should be paying 10% more in property taxes every year, year in, year out. people who have been here in the tough times deserve to stay here in the good times. that's what this bill is intended to help. people have been here in the tough times, who we want to stay here in the good times and not be priced out. >> reporter: evans discussed his tax relief even as mayor vincent gray was announcing a plan to add 100,000 new jobs in the city within five years. gray said the entire city is attracting private sector jobs, not just government oriented jobs. >> when you talk about microsoft locating in ward 8 of the district of columbia, that probably would have b
the economy expanded more than previously thought. earnings results out today, mcdonald's reporting the first monthly sales drop in nine years. they are feeling the effects of the economy and rivals like burger king and wendys. black friday has moved to thursday, at least for walmart. the retailer is giving bargain hunters a $75 gift card with the purchase of an ipad if they are online between 10:00 and 11:00 p.m. on thanksgiving night. i'm not sure if that's how i want to spend my thanksgiving. >> thanks for checking in. >>> in this week's wednesday's child, we meet a boy that loves all things outdoors. william is his name. he loves animals, especially dogs. he would like to have a dog of his own, but first a place to call his own. >> what a welcome we got from georgia, the golden retriever. what do you think of georgia? >> she's pretty. >> this 16-year-old loves dogs. a shop in arlington that has everything for man's best friend, even a dog trainer who comes to work with dogs like georgia who drop by. william enjoyed helping out. >> he's a country boy. he loves anything outdoors, he loves t
to send the economy back into a nose dive. what's your sense in washington? are both sides -- do both sides still have an appetite to play brinksmanship or is there a real desire to get this done? >> as i talk to people on capitol hill, lester, and in the administration, there is still wariness on both sides. one for the other. but there is a different attitude. they both see some room for breakthrough here. i think both sides recognize that the public has spoken lo loudly about the importance of compromise. but the public has also reaffirmed the status quo in washington. so the president is in a position, and you heard him at the end of the week insisting that tax rates for wealthy americans are going too much to go up. or taxes, more generally. so i think that's where he feels the mandate of a second term and he's going to drive a hard bar fwan. but i think he's going to try to work in a way to make it very difficult for republicans to say no to a new approach, again, undering people want something to get done on this on deficit reduction and then move on to some other issues. >> gi
possibly push the u.s. economy into recession unless congress does something about it. >> is wall street basically registering its doubt and skepticism that either party can come together and resolve this? >> that's right. i think we will see compromise. already you've seen the president reach out to the other side. john boehner making comments that they also want to work together. but, again, this is the choice that we have been talking about over the last several months. spending cuts, tax increases. >> we should mention that we're also more renewed fears in europe, the greek debt crisis rearing its ugly head. >> absolutely. it's clear that greece cannot pay its bills. now we're thinking, okay, this is another pressure for the u.s. economy. so we're all waiting on some kind of compromise out of washington as well as some stability in europe. but for sure, we'll probably see some volatility going forward. doesn't really mean much, though, long-term. >> i was going to say, let's get some perspective. there was a huge drop after the president's election four years ago. but over the last f
this afternoon about the economy and what it will take to stave off the fiscal cliff. we'll have a live report from the white house straight ahead. >>> also new this morning a tough reprimand for members of the highly respected seal team 6. did they divulge classified information to the makers of a popular video game? >>> then a very real drama for one of the young stars of "modern family." 14-year-old aerial winter removed from her home after allegations she was being physically and emotionally abused by her own mother. there are new details in the case this morning and her mother has released a statement to nbc news. we will talk about that. >>> first let's get to the top stories of the morning. natalie morales is over at the news desk. good morning. >> good morning, everyone. it is back to work for president obama today as he addresses congress about the fiscal cliff, tax increases, and automatic spending cuts slated to slam the economy back into a possible recession in january if the house and senate don't intervene. partisan politics have gotten in the way on the issue as republicans refu
and take control of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. [ male announcer ] it's that time of year. time for campbell's green bean casserole. you'll find the recipe at campbellskitchen.com. ♪ campbell's. it's amazing what soup can do. i've been fortunate to win on golf's biggest stages. but when joint pain and stiffness from psoriatic arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffness, and stop joint damage. because enbrel, etaner
's gonna care about. i know the economy is tough and i know that the retailers need the sales and all of that but when we lose perspective about what really matters in this world, we have lost everything, i think. >> right. so let's shop on friday. >> i think so. >> i think you're right. i think so, too. >> unless you don't have a family to celebrate with. but people -- i don't know, are these stores going to pay employees more to work on a holiday? >> i don't know if that is the case. >> a lot of people are out of work, you need the job. it is unfortunate. i really do. >> we are going to talk about a wednesday -- is it wednesday? it is wednesday. >> winesday wednesday. >> talk about a trend. >> this has been around forever though. >> this is a trend and it is peanut butter and pickles. it is national pickle day, in case you didn't know. according to the "new york times," a old favorite it has emerged again. i guess it is the tartness and the tanginess of the pickle coupled with the peanut. >> any given morning, you and i can be found with our peanut butter. every morning we have that
and the european economy, those outweighed the economic report we heard from china. trade volume is expected to be light with the holiday and though the stock market is open, the bond market and banks are closed. we saw some activity today. group shares flying higher after it was bought by national, saying it was going to buy the bank for about $3.7 billion. and research in motion stock is doing better today after announcing plans to introduce its blackberry 10 on january 30th. it is betting its future on a new line of smart phones after losing major ground to samsung electronics galaxy line. research in motion shares are tanked by about 90% since 2008. and "skyfall" had the best james bond opening ever. raking in amounts of $88 million in his first three days. overseas bringing its worldwide total to about $520 million. back over to you, keith. >> thanks, julia, thanks for checking in. >> we have more now to put on the perfect fall wedding. we're joined by our guest. welcome back. >> thank you for having us. >> we are talking about fall weddings. in fact, this whole week we're doing a weddi
for the increases. >>> a new study shows the dream act could impact not just education but the state's economy and crime as well. the maryland institute of policies and research looked into the new law passed on election day. >>> maryland live will bring in table games and add to slot machines already in the building. they will play poker and blackjack 24 hours a day. it will add 1200 employees which would double its staff. they hope to complete expansion by early spring. >> 6:37 right now. the the new owner for robert griffin iii says he has never seen this before. >>> a medical mistake. one woman claims was left in her foot after surgery. >>> and we are closing in on the end of an era. what will happen today that could decide whether you can buy a twinkie ever again. >>> 6:37. 45 degrees out there. cold. how long will these temperatures >>> welcome back. social media can really get your mental out there. these two kids can attest to that. they wanted a cat. their dad told them they could adopt one if 1,000 people liked them on facebook. guess what, 7-year-old and 1-year-old posted a picture
sandy after taking a strong stance on the looming fiscal cliff telling lawmakers that the economy cannot afford a tax increase on all americans. republican leaders say raising income tax rates on wealthier americans could hurt job creation. >>> after a rough closing on wednesday over those fiscal cliff fears, wall street is once again on edge this morning as new figures show the 17-nation euro zone has officially fallen back into a recession. and workers protest there are sweeping across the continent. kayla tausche is at the new york stock exchange with more. kayla, good morning. >> good morning, natalie. the congressional budget office has warned that failing to fix the $600 billion in tax and spending cuts would drive the u.s. into recession, which has been relatively strong compared to europe with rising unemployment and unrest, as well as china where big questions loom over the direction of the world's second largest economy under new leadership. president obama yesterday called for tax cuts to the middle class immediately. that followed business leaders and a big meeting there, one
disabled veterans are trying to find a job and they're facing real difficulties in this economy. plus a lot of them do not have the skills to properly compete for jobs. a program called warrior bridge is operating in our area providing a broad range of services that help vets write their resumes and do well in interviews. the program is operated by service source, which has been helping people with disabilities for 40 years. >> in this area, that is so dense with veterans with disabilities getting out of the military, there's a huge gap of them getting out and employment. a lot of companies have employment initiatives to hire veterans. our job is to bridge the gap between the veterans coming out of the vas, and the employers. >> costanza said he helped dozens of veterans find jobs in the past few months but there's a waiting list for the service. >>> northern virginia bureau chief julie carey shows us thanks to technology, two students got to spend part of the day with their dad serving in afghanistan. >> reporter: these students are on quite the veterans day field trip. with the help of a
a progrowth system for individuals, but the loopholes are closed. it's a progrowth way growth for the economy. it's a way of generating economic growth, and at the same time, generating those revenues for weather persons. i don't think the issue is about revenues. i think speaker boehner laid out 800 billion in revenues the last time they met. the real issue here in my opinion, and i meet republicans and democrats all the time, is how deeply we'll deal with the issue of entitlements and especially the medicare program. to me, that's the key to the discussions, and that is, will the president will willing to really fundamentally change the medicare program. i think he if he is willing to do that, you will see a compromise here. >> i want to just talk briefly about this notion of a two-step measure that speaker boehner ports, a stopgap that will buy a little time to january. can we afford that or can we do this all in one step? >> i'm not a fan of that, look. we all know what the issues are. we've been talking about this for two years. we had two dry runs at it now. i'm not a fan of a two-step
.s. economy. >> president obama says he's willing to compromise to reach an agreement, but he insists america's top earners pay more in taxes. >>> firefighters pulled a victim from the c&o canal around 11:00 last night. it's not clear how he fell into the canal. at last check he's listed in critical condition. >>> police are trying to figure out who shot and killed a 20-year-old man in prince george's county. they found the man suffering from a gunshot wound in lewisdale yesterday morning. police are working on a motive in this case. >>> police also trying to figure out a motive in a fast food restaurant shooting. the man at the taco bell on minstrel way in columbia was shot several times early yesterday morning. he is currently in critical condition. police say they're looking for two men who they believe are responsible for the shooting. >>> there are some changes to public transportation today because of veterans day. metro is open, but it's running on a saturday schedule. off-peak fares are in effect all day, and there's free, parkings well. no marc or vre service today. two orange line
but does warn, if america goes over the fiscal cliff, the economy will return to recession, and unemployment will go over 9%. aaron? >> jackie deangelis, thank you. >>> the fiscal cliff could have a devastating effect on northern virginia. a recent study found virginia could lose thousands of jobs because it had so many defense contractors and military agencies. governor bob mcdonnell is preparing for the worst. he's urging agency heads to look for potential cuts of 4% to their budgets for the 2014 fiscal year. >>> hailing a cab could get a little more pricey for the inauguration. the d.c. cab association is looking into implementing a surcharge for the weekend. the charge will reportedly target extra passengers in each car in order to encourage cabbies to work during the busiest times of the weekend. a surcharge was added for nationals playoff games, but it was rescinded. it will all be discussed at the taxicab commission's next meeting. >>> this morning we're seeing how emotional president obama got during and after his re-election bid. >> what you guys have done and the
economy, let's start to actually solve the problem. >> reporter: the speaker wants a tax overhaul that raises money by cutti't hammer out a deal by year's end, the nation goes over the so-called fiscal cliff. taxes go up for everyone. an average of almost $3,500 per househo household. republicans say they want the president to address the real problem. >> and the real problem is uncontrolled entitlement spending, and a government that has grown massively. >> reporter: democrats say republicans are going to have to compromise. just like the president and his party did after getting walloped in the 2010 elections. >> we cut $900 billion in spending that we didn't like, painful to us. >> reporter: in washington, a high stakes search for middle ground. the president and the speaker say they're both hoping for a big deal. some members of both parties are willing to just go over the cliff and let the next congress fight it out. live on capitol hill, brian moore, news4. >>> the head of the montgomery county school system is laying out plans for the future. dr. joshua starr delivered his
cuts would automatically take effect. economists fear that could plunge our economy into a deep recession. congressional leaders say they're confident they could get a deal done. >>> firefighters rescue at least one person from a house in washington. it broke out just after midnight on the 1700 block of benning road. firefighters say the small kitchen fire caused heavy smoke. three people were taken to the hospital with minor injuries. they're expected to be okay. >>> 5:34 right now. two cars hit and killed a 42-year-old woman trying to cross the street in prince george's county. the deadly accident last night in the 3800 block of kenilworth avenue in bladensburg. the victim mary harding was not in the crosswalk at the time of the accident. no word on whether the drivers will face any charges. >>> a car also hit a woman crossing the street in montgomery county. police say she was walking along georgia avenue north of randolph road in silver spring when the car hit her. investigators believe the woman was not in the crosswalk. the driver did stay on the scene. his 10-year-old son
that could only be found in veterans. but finding work for veterans in this economy has been tough. >> sometimes i feel like it's a slap to the face, because we served our country. >> johnson left the army in 2009 after serving two tours in iraq. >> i had plenty of interviews and people shake my hand and tell me thanks for what you did for the country and everything like that. and i didn't get the job. >> the bureau of labor statistics reports that unemployment among veterans is above 12%. that's why two marines moving says when you hire their services, you're actively putting veterans the work. customers like manny solis say they chose these veterans because they're veterans. >> i want to do this because of what i've heard about them. >> i prayed for something like this. >> johnson said this opportunity has motivated him and hopefully others. >> it's not over. god's got you. you got to have yourself. >> he's proven himself to be army strong. >>> two marines moving wants to hire 50 veterans by veterans day. so far they've hired 35. anyone interested can still apply. and with the ar
to talk about the economy and jobs now that it is not a campaign issue it's back to being a reality. you have heard it a million times. we used to make things in america. manufacturing was the backbone of our country. and now it isn't. at least that's the rampant belief. tonight harry smith has some evidence to the contrary. >> reporter: the idea that american manufacturing is dead is a myth. or more accurately an outright falsehood. >> i think there is a team of great opportunity in manufacturing, there is a renaissance going on. >> reporter: mary is the ceo of the vermier corporation in iowa, a company that build a mind-boggling array of machinery sold in 70 countries around the globe. mining, farming, construction, landscaping. since her father put a simple hoist on a corn wagon, 70 years ago, vermeer has been trying to find a better way to do all kind of things. people travel through the country and they see old industrial plants and they think to themselves well america's industrial heyday is over. to which you would say what? >> i would say, let's look at the facts. and the facts a
for investors and the broader economy. many business leaders urging congress to work together to resolve that fiscal cliff before it's too late. natalie? >> courtney reagan at the new york stock exchange, thank you. >>> and now for a look at what's trending today. our quick roundup of what has you talking online. judy garland's blue and white dorothy dress from "the wizard of oz" featured recently here on "today" fetched an over the rainbow bid at a hollywood memorabilia auction this weekend. it sold to an anonymous buyer for about $480,000. >>> the reported breakup of justin bieber and selena gomez dominated the internet. during an appearance on the radio show "open house party" justin was asked if he had a comment on the relationship. >> i don't know what to say. i don't know really what's really even going on in my life. so it doesn't make sense because i've not made any comment. >> and at a concert in boston, the beibs seemed to let his work do the talking with a performance of justin timberlake's anthem "cry me a river." ♪ cry me a river cry me a river ♪ ♪ cry me a river >> ju
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